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ceiling even before we tumble over the fiscal cliff. good morning from washington. it is thursday, december 27th. this is "the daily rundown." i'm luke russert. two days after christmas and washington is back to work trying to harsh out a deal to avoid the fiscal cliff. the senate will get back from the session after holiday break. the president is expected to arrive back to the white house without his family to get back to twork mework to meet the loo deadline. mike is at the white house. let's start with you. the consensus around the hill is that we are more likely than not to go over the fiscal cliff, but there is a small chance harry reid could take a house pass bill and amend it and send it back over to the house. what are you hear being that? >> conceivably, but when the president lights upon the south lawn and the marine one later this morning, it's unclear why he is coming back and who will be here with him. as you mentioned, speaker boehner remains in ohio where he is from. he is not coming back to washington. neither is the house of representatives. they simply said it's
" this morning, with an 11th hour deal to prevent the u.s. going off the fiscal cliff, is that actually going to happen? we have both sides of the aisle and both sides of congress with us. republican representative steve la tourette and democratic senator richard blumenthal. "sex and the city" d.c. style. we'll talk to the authors of the juicy new novel dishing about life working for a demanding senator on capitol hill and he's a mean one. the grinch from the musical joins us live and it turns out he may not be that mean after all. that and much more in 14 minutes or so. the grinch is going to be here. >> in costume, i hope. >> of course. it's going to be the real grinch. it's not an actor, it's the grinch for those kids watching this morning. >> of course it is. thank you, ali. >> good to see you both. >> we'll be watching. 47 minutes after the hour. let's get you up to state with the top stories. six states from pennsylvania to maine facing a winter storm, a big one. 12 to 24 inches of snow could fall in parts of new england. holiday travel just a nightmare on the roads and in the air. more
-called fiscal cliff, and lawmakers scrambling to come up with a solution. >> good morning darya protection live look at the roof cam downtown san francisco. it still looks like christmas. we are enjoying clear conditions. it is cold out there with the badgers in the '40's were the most part typical continue to drop about another five degrees approaching sunrise. >> localbundle up to the afternoon. the images will stay in the '50s as we head into the evening hours. mostly clear skies and dry conditions. here is a look at the numbers for those of you heading out. 39 degrees for fairfield. 41 for napa. mid-40s in richmond. temperatures will continue to drop. we are seeing mid '30's hovering right above the freezing mark for the portion of our protective valley. you may need to scrape your when should wipers. >> as we take a look at satellite and radar high pressure has built in of the area at least for the next day or so. after that we have wet weather in the forecast. temperatures today sitting around a 53 degree mark. i will break down your afternoon highs and what you to futurecast for my next
force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that would happen if there is no deal. after our wednesday conference call, house republican leaders issued a statement saying they were waiting for the democratic controlled senate. the house will take this action on whatever the senate can pass they said but the senate first must act. in a sign of public frustration over the lack of a de
in other publications this morning. we want to hear from business owners on the fiscal cliff and if it is affecting your plans for 2013. you can see the numbers on the screen. business owners only. small or large businesses. from the hill newspaper -- that's from the hill newspaper this morning. finally, from "politico" -- our first call this morning, from business owners only, about your views on the fiscal cliff, comes from jim in hot springs national park, arkansas. what kind of business do you own? caller: the last one i had, i was in the construction business. and when i sold my last house i decided to move too hot springs, the first resort in america. host: you are a retired business owner? caller: right. host: if you were still running your business, how would you be looking at the fiscal cliff? caller: i've got some ideas i would like to say. the first thing we would do is eliminate all the people that do the free housing and food stamps and by about all those office expenses and just go with an earned income credits that would not exceed 15 cows and dollars per year.
, president obama returning to d.c. this morning to pick up with the fiscal cliff talks which are still underway i guess. this morning as our guests have on about talking about, senator harry reid was the latest to say, we're headed right off that cliff. rich edson on capitol hill with the latest, rich. >> good afternoon, ashley. so the senate isn't working today. there was pressure on house republicans to bring house members back. they're doing that now. this according to republican source on a conference call. house majority leader eric cantor telling republican members they should be back on sunday evening to be prepared to work. though much like the senate they have nothing to vote on right now. it is a positive sign if congressional leaders reach some type of a deal the house and senate will be in town to get votes on the record, but still there is no deal worked out right now between top democrats and top republicans in washington. house republicans are calling on the senate to pass their various proposals dealing with the fiscal cliff. the senate majority leader says it is up to
in san francisco. fiscal cliff talks will resume this morning in washington. when will have a live look from the senate floor. also inside the office of one of the richest man is on the planet. warren buffett. those stories and much more when the kron4 morning news continues. >> >> compared to yesterday that the nasty weather would not be the case today. high- pressure is in control and we will continue to see the sunshine and dry weather. not only this afternoon but clear conditions will continue into the evening hours. satellite and radar pictures look like mainly active whether it has shifted too our east. we are dry for now but we have changes to talk about as another storm is headed in our direction. i will break down full details and walk you through future cast four and my next report. >> it continues to be a pretty good ride even though we had a few minor incidents on the peninsula. they have cleared up now and the bay bridge ride and has a light traffic and no meat during lights. the quick check commute shows we're dealing with much much lighter than usual traffic. you'll not f
at the top of the hour on "morning joe," treasury secretary tim geithner throws a monkey wrench in the fiscal cliff talks, announcing that the u.s. will reach its budget cliff by monday. we'll discuss that on "morning joe." and when we come back, we'll hudding around the water cooler, where it gets awkward in an interview between the obamas and barbara walters. that's next when "way too early" comes right back. ♪ >>> okay, enough with the real news, let's gather around the water cooler to watch barbara walters try to pull back the curtain on life at the white house. the 83-year-old journalist sat down to interview president obama and the first lady, assuming we've all heard plenty about the fiscal cliff, walters wasted little time pivoting to more intimate territory. >> when you look at this picture, what do you think? at what point was it taken? >> i think we were campaigning in iowa. >> so, why were you hugging so hard in iowa? >> because i love my wife. >> well, and also, i hadn't seen him in a while. i mean, you know, when you're campaigning, we're two ships passing in the night, and th
. >>> now, to the fiscal cliff. still looming large as president obama returns to the white house this morning. the president cut short his christmas vacation in hawaii to get back to washington. congress will be in session today, amidst fading hope that a deal could be reached by the new year. no agreement would mean spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today in salt lake city. the 200 teachers come from districts across utah. they have volunteered for the concealed weapons training. organizers say in past years, only a few dozen teachers attended the training. they're expecting an overflow crowd because of this month's tragedy in newtown, connecticut. >>> west webster volu
the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's not likely given the president's position on raising taxes for those making more than $250,000 a year. >> i want us to not go over the cliff because i think if we do it hurts our economy and it hurts our country. >> mi
. president obama flying home from hawaii this morning to try and get a deal on the fiscal cliff with the deadline just five days away now, but are the two sides even talking? >>> 36 million hits and counting. the videos that made us laugh, cry and cringe in 2012. we are going to look back at four of the year's most talked about internet sensations as the stars of them join us live in the studios, thursday, december 27th, 2012. >>> from nbc news, this is "today" with matt lauer and savannah guthrie, live from studio 1a in rockefeller plaza. >>> good morning. welcome to "today" on this thursday morning. i'm savannah guthrie. >> i'm willie geist in this morning for matt. we have the party music on for a reason. it's someone's birthday in this room today. happy birthday, savannah. >> thank you. i'm getting my musical request for today. a little techovibe. >> we will have the carbon daters to take us back to the day you were born. >> do you need to tweet out my age? >> i gave some hints. >> turning 30, very excited about that. >> we'll let you have that one. >> a lot of wind in the n
as he gets ready to confront the fiscal cliff facing the nation. >>> radar and satellite, a lot of cloud cover8dgcu radar try air now good -- dry air, good news if you are tired of the rain. tonight cooler than this morning more 30s inland, 30s and low 40s around the bay and towards the coast. chance of drizzle maybe a few sprinkles tomorrow morning. light rain tomorrow afternoon into the evening, scattered showers saturday, dry, brighter and slightly warmer sunday. >>> good morning many happy thursday. light traffic conditions. we have an injury accident with an overturn on theb?07v off-ramp south 680 at coopman, crews on scene i'my1w' not seeig significant slowing past that accident. southbound great highway in san francisco closed lincoln way to sloat due to drifting sand. some of your drive times right now, 24 from walnut creek, 101 out of santa rosa to novato, 680 corridor to the 580 junction moving at the limit, 15 minutes. >> san mateo bridge looking good, as you make your way 'dd the other direction as well. >>> 6:40. still ahead, president obama makes his return to the nation's
at 2:00 p.m. eastern. no legislative work is expected. we have an update on fiscal cliff negotiations this morning on "washington journal." guest: this is a recession between christmas and new year's. i do not know. maybe they should finish their work. you will see some push in the next few days to get a small deal done. viewers are fan of the process. anything that gets done needs to be done quickly before new year's to be signed into law. today is the 27. and so you have a few days left for lawmakers to make a deal. the president's should land at some point. there is a 5 hour time difference. they have to figure out something. it seems likely will go over the cliff. it has been looking like that before the holiday, but certainly now, particularly if you remember for congress broke for the christmas break, speaker raynor was not able to get the backup plan through his caucus, so there was no pressure on democrats to try to counter that immediately. senate democrats saying we passed a bill that raises tax rates on incomes over $250,000, we ran on this and this is what we are offering.
fiscal cliff deadline. it is now just five days away. is there any movement on either side? how many times can we ask this question of abc chief white house correspondent, jonathan karl, joining us this morning. dare i ask, where we stand this morning? >> reporter: good news and bad news. the president's coming back to washington. the senate's coming back. they're ready to strike a deal. the bad news, josh, no progress whatsoever. and in fact, the treasury department said that the government on monday will hit the limit of how much money we can borrow to run the government. they're going to do some extraordinary measures to keep us running to february. but things look grim. the one sliver of good news i can say on the substance is, the speaker's office tells me this morning there has been contact between the speaker of the house and the president, at least on the staff level. and they won't say whether or not the two men actually spoke. >> contact. hazahs all around. what do we really mean? >> reporter: everybody will see their taxes go up. here's three examples. you have a teacher w
this morning, cutting short his holiday vacation. however, with only five days before the fiscal cliff deadline, no new negotiations have been scheduled. and adding to the pressure, treasury secretary tim geithner says the country is on track to hit its borrowing limit on monday. >>> and former president george h.w. bush has been moved to the intensive care unit at a hospital in houston. he's in guarded condition because of a stubborn fever. mr. bush who is 88, has been hospitalized for more than a month now, trying to recover from bronchitis. >>> you think you pay a lot to park. not compared to folks in chicago. it's going to soon cost $6.50 per hour. that's like 10 cents a minute at a meter downtown. after the rate goes up 75 cents in the new year. >> in quarters? >> yes, quarters, you can also use a credit card. >> who carries $6.50 in quarters? >> you can use a credit card, you guys. >> makes perfect sense. >> but they have the dubious distinction of having the most expensive parking meters in chicago. so, congratulations, chicago. it's a lot of money. >>> but at least this won't happen to
cliff. he boarded air force one overnight and will be arriving in maryland around 8:45 this morning. the president cut short his vacation. democrats and republicans have just four days to reach a deal before mandatory budget cuts and tax increases kick in january 1st. >>> new senator representing hawaii will arrive on capitol hill today. lt. governor will fill the seat left vacant by the death of senator daniel inouye. he was chosen from a list of three yesterday. the 40-year-old has served as state lawmaker and chairman of the hawaii democratic party. he will serve until an election in 2014. >>> lance armstrong has until today to appeal the ban imposed on him. he lost his seven titles december 6th, when the international cycling<ç÷%Ñ union banned him from the sport for life. penalties came after the united states anti-doping agency hit him with similar sanctions for using banned substances. armstrong did not appeal. it appears he won't challenge this latest ban. >>> gun buy-back in los angeles is being called a huge success. you can see why. cars wrapped around several blocks as
morning. >> good morning, duarte. yes. hopes for legislation to avoid the fiscal cliff now turns to the senate, but white house and republicans remain far apart. senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the fiscal cliff. higher taxes will give the average american about $1,500 less to spend next year, and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everything. >> while senators try to brave the bad weather in many parts of the country in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. house republicans scuttled a proposal from speaker john boehner last week, and 48% of americans say they are to blame if no deal is reached. >> both sides here have a problem with the american people, an
friendly in a few days. we are watching right now the fiscal cliff negotiations and traders are watching closely and it is a flat morning as they are on both sides of the aisle trying to work that out. >>> and now dave clark and pam cook are both off and we continue with ktvu channel 2 morning news. >>> there was a police shooting overnight in walnut creek. christian captain is near 680 with new information he found out within the past hour, christian? >> reporter: we have been on the scene since 4:30 and there is still a sizable police presence and we have seen some units just leaving in a few minutes. we have learned of course this was an officer involved shooting. if you take a look from our vantage point, the scene is at that brick wall you can see in the distance. police confirmed it all started as domestic violence and we have learned that the initial 911 call came in shortly before 3:15. >> we received 911 call transfer from the fire department at 3:13 this morning. there was screaming on the line. officers were dispatched and arrived within minutes. we received a radio transmissi
with as you probably know. the fiscal cliff headline watch continues. you just heard john kanas say the market not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the market fade if there's no news tomorrow night? >> the nikkei continues its 21-month run. how much is the boj willing to put up with? >> looking a at potential strike in the nation's port on the east and southern coast, the first since '77 that could cost retailers and importers billions. businesses now asking its white house to get involved. >>> you can now get the nokia lumia for free, depending on the service provider contract you sign s that standard practice or a sign the company's flagship phone suspect selling well? >>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to tr
cliff. senate majority leader this morning said it looks like that is where we are headed, certainly investors don't like to hear that. the white house has said that the president has made separate calls to congressional leaders as he heads back to dc to try to deal with the deadline. >>> this morning the labor department reported a better than expected report on the number of jobless claims, 350,000 people filed for first time unemployment benefits last week. that's down 12,000 from the week before. most economists expect that to hold steady from the week before but they warn that decline may be blown up because government offices were closed monday and tuesday. >>> and more sign that the economy is improving. the commerce department said sales of new homes rose 4.4% in november. americans bought new homes at the fastest pace in more than two and a half years. they said demand was up more than 15% from a year ago. >>> consumer confidence has fallen because people are so worried about that fiscal cliff. the index has hit the lowest level since august. the concern is over tax increase
where the weather is just as frigid as the political climate inside. fiscal cliff talks appear to be going nowhere. the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors suspected he would be home in time for christmas but his condition worsened, he is alert and ta
as the political climate inside. fiscal cliff talks appear to be going nowhere. the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors suspected he would be home in time for christmas but his condition worsened, he is alert and talking to hospital staff. >>> there is a bright spot for
of the fiscal cliff. >>> you can wrap up the gambling then come home and watch "good morning maryland." beginning today, maryland live casino will open their doors at 8:00 a.m. and they will never shut again. 24/7 gambling. beginning on this thursday, december 27th. "good morning maryland." >>> i'm charlie crowson. >> and i'm megan pringle. >> thank you for joining us on this thursday morning. we're going to head out live to the casino later on but in the meantime headed anywhere you need to know how the weather is going to be. here's meteorologist mike masco. >> you think linda is gambling this morning? >> absolutely. yes. >> 41 in town but outside the beltway. 36 timonium and bel air good morning to you. 35. it's a chilly morning and we do have a coastal flood advisory so fort mchenry tunnel just some minor flooding right now. port deposit near havre de grace minor flooding. so just know if you live in an area prone to bay flooding you might want to move things the higher ground. the second story this morning will be the winds and it's a high wind advisory through the course of the
'll show it to us. who is the media blaming for the fiscal cliff? you know the answer to that one and so does bret, ale he join us. entitlements keep rolling totally unchecked. young people are picking up the bill, but they he voted for it. we're looking at the biggest winners and losers in the s&p 500. let's start with three of the biggest losers and show you how much they've lost and where they are right now. start with best buy, down a little right now. down 50% so far this calendar year and chip maker advanced microdevices, it, too, is down 1 this morning, down 55% so far this year. online education company apollo group down 62% for the year, down again as of this morning. time to give you a couple of winners. start with bank of america, more than doubled this year, up 107%, it's up again right now, 10 cents higher. whirlpool up 110% this year up 41 cents. sprint nextel. up 137% this year, it, too, is up again this year and then pulte homes up 182% and yes, it is up again as of right now. the big losers all down, the big winners all up this thursday morning. then we've got facebook's
"fiscal cliff" pushed stocks down for a third consecutive day. the dow lost 24 points thursday. the nasdaq fell 22. asian stocks are higher this morning after china's industrial companies showed profits. tokyo's nikkei gained 1% to finish at a 21-month high. hong kong's hang seng rose half a percent. >>> president obama returns to washington for one final effort to avert the so-called "fiscal cliff." with just five days left until the deadline and no sign of a compromise, congressional leaders are urging the senate to consider a bill that's already passed in the house that would extend existing tax cuts. >>> the us treasury department says it will start taking steps to postpone the government from hitting the $16.4 trillion debt limit the money the government can spend to finance its operations. >>> toyota will pay the biggest sum of money ever recorded for a car defect. the proposed $1 billion settlement will resolve a class action lawsuit for hundreds of toyota owners who claim unintended acceleration problems caused numerous crashes, injuries and even some deaths. >>> and chicago wins t
away from the "fiscal cliff." he took the red eye from hawaii overnight. senators are set to work today on a plan to avoid the so- called "fiscal cliff." but house gop leaders say they will not return to washington unless the senate passes a bill. with no deal on the horizon, a new poll finds the gop gets the biggest share of the blame for the stalemate. >> both sides here have a problem with the american people and it's why congress has 11% job approval rating. >> even starbucks is gettingismy for an agreement. its employees are writing "col together" on coffee cups in d.c. to try to encourage compromise. >>> hawaii's lieutenant governor brian shots will replace the late democratic senator daniel inouye who died of respiratory complications last week. on the day he died he wrote to the governor asking for a female representative to replace him. she made it to the final round of consideration but did not win the nomination. >>> and former president george h.w. bush is in intensive care at a houston hospital with a fever and cough. mr. bush was admitted to the hospital more than a month
. >> economists have warned that failure to address the fiscal cliff could send our country back into recession. maryland live! casino now open 24-7. before they closed at 2:00 a.m. and 4:00 a.m. on friday and saturday. but this morning the anne arundel location , that stores for the very last time. >> they unlocked at 8:00 and there was a waiting line to get in. this is all early buzz for the 24-hour operation. before now, the casino had to close its doors, but not any more. and adult beverages here are now sold around-the-clock. >> 24 hours a day -- all day long, all night long, all year long. we are pretty excited about that. >> i think it is great. it will bring more revenue into the stage. i think it is win-win. >> i think it is great. it makes it more like vegas. >> this comes before a big night of the year for the entertainment industry -- new year's eve. maryland live! expects to do well on its own and to draw crowds from nearby bars and restaurants that have to close early. >> we will have the full menu. we invite you to come by. >> we're in process of firing all the personnel necessar
this morning with comments on the situation, and we will hear what he had to say about the fiscal cliff now. : new year's eve is fast approaching and for decades and decades the american people have watched the ball drop in times square. it's the countdown to midnight, the start of a new year. but this year, mr. president, the american people are waiting for the ball to drop but it's not going to be a good drop. because americans' taxes are approaching the wrong direction. come the first of this year, americans will have less income than they have today. if we go over the cliff, and it looks like that's where we're headed, mr. president, the house of representatives as we speak with four days left after today before the first of the year aren't here with the speaker having told them they'll give them 48 hours' notice. i can't imagine their consciences. they're out wherever they are, around the country, and we're here trying to get something done. they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to
public stance on avoiding the fiscal cliff. the starbucks ceo as its workers at 120 d.c. area stores to write come together on coffee cups they serve today and tomorrow. he says it's a way to " send our elected officials in respectful but the message, urging them to come together to find common ground " on prices might still be recovering but the price of rentals has skyrocketed and many u.s. cities especially oakland and san francisco. san francisco that the no. 10 spot well open comes in at no. 2. according to the cnn report opens all rents surged partly fuelled by renters priced out of san francisco which is still booming with tech talent. the year over a rise the year over year rise in oakland was 11.6% in sampras's go it is a 5.8%. the number one spot goes to houston at 16.8%. we will be right back. óó >> we're watching the weather across the country because a lot of people are traveling this week. all of the weather we saw this past week has pushed east and now it is in new york. also parts of new england are being hammered by snow. this is a storm that has been given a name
to stay off the roads this morning. >> 95 in the white marsh area looks pretty good. some problems that the bay bridge. >> 2013 will usher in some new laws. >> lawmakers returning today to tackle the fiscal cliff are being faced with another deadline. >> sprinkles overnight are moving off to the east but t >> you're watching wbal-tv 11. live, local, late-breaking. this is 11 news today at 5:00 a.m. >> good morning. welcome back to 11 news today. i am jennifer franciotti. >> i am sarah caldwell. thanks for joining us for 11 news today. >> the wind is increasing behind the storm. all the melting snow has the roads completely wet. imagine if we were at the freezing mark. we are lucky the temperatures are above freezing. we are close to the freezing mark at sykesville. downtown, 41. we expect the temperatures to hold steady throughout the day. >> that is good news. we noticed more traffic this morning. >> today and tomorrow and next week is new year's. wind warnings are in effect at the bay bridge. prepare for a little bit of extra time. 55 on 295. the entire beltway is up to speed. so
in time. talks underway this morning. the clock is ticking what farmers are calling the dairy fiscal cliff. patti ann. patti ann: aptly named. dominic di-natale live in l.a. for us. thanks. gregg: the deadly winter weather is far from over. new warnings of another powerful system heading our way. the already storm-pummeled northeast really hurting. >> new concerns about what if any progress is being made on those fiscal cliff talks. south carolina republican nick mulvaney is on the house budget committee and he joins us live, next. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like lerty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we'r
hawaii. five days until we fall off the fiscal cliff. the president returning to washington to try to negotiate things there. doug luzader is life with the president's plans and what could happen if a deal isn't reached in time. >> the president is in the air on board air force one heading back from hawaii. he is going to come back from washington where not much has changed. as far as congress is concerned the senate will be meeting today. interesting little tidbit this is the first time since 19170 there have been legislative business conducted in the weeks of between christmas and new years. we will see some activity on hap t capitol hill. there may be a stopgap measure to try to prevent the calamity that happens at the end of the year if we reach the fiscal cliff. if we do not have some kind of a compromise. here's what's going to happen. just about everybody is going to have a tax increase. the number goes up significantly with incomes. if you are talking 200 to 500,000 in income almost 14,000 dollars in tax hikes. the wealthiest americans people that make a million dollars or
this morning, let me bring you up to date on the fiscal cliff. we're now just five days away from going over the fiscal cliff. happy new year. here's what you might have missed. president obama left hawaii early to get back to washington today. the senate is also coming back from christmas vacation today to work on a deal. now, sources tell us majority leader harry reid will push a scaled-back version of the fiscal cliff package that president obama laid out on friday, which moved the tax hike needle to $400,000. no word yet on when the house of representatives might come back, but democrats say the only hope we have of something getting through the house, the senate and the white house may be a very last-minute deal. cnn radio's lisa is following developments on capitol hill right now. the ball is in senate majority leader harry reid's court it would seem right now, lisa. >> that's right. harry reid and the senate seem to be the only game in town right now with the senate returning today. we also know from sources, ali, that over this christmas break there were no conversations between the
're a commodores guy? >> no, i'm not. >> you're not? >> no. >> the fiscal cliff topping our headlines this morning. speaker john boehner urging the senate to come up with a passable debt solution, promising to at least consider any bill the uper chamber produces. senator harry reid to continue tax breaks for households with incomes below $250,000. the senate bill would also likely contain an extension of expiring unemployment benefits. the fiscal cliff is not the only ticking clock in washington. in a letter to congress treasury secretary tim geithner said the u.s. would hit the $16.4 trillion ceiling on monday. without extraordinary measures geithner announced that the treasury would begin accounting moves that would keep the government from hitting its credit limit for about two months. the treasury secretary warning that it's hard to predict exactly how much time the accounting moves will buy, because ongoing cliff negotiations make it hard for them to forecast revenue and spending for next year. >>> housing prices, some good news. on track to record their first yearly gain since 2006. it's a f
-called fiscal cliff as soon as he lands. the goal, to work out a deal that can solve the political gridlock before the new year. the senate will reconvene today. the house, however s not back in session after the failure of speaker john boehner's plan b last week, house members are saying the ball is now in the senate's court. >>> former president george h.w. bush is in the intensive care unit at a houston hospital this morning. according to a statement from the bush family the president has been in intensive care since sunday, after suffering a series of setbacks, including a persistent fever. they also say he's relentlessly positive and spends time talking and joking with his doctors. in the next hour we'll take to you houston for a live update on the president's condition. >>> it's called one of the largest lawsuits of its kind, toyota agrees to a $1.1 billion settlement. we'll tell you who benefits and if one of the people who benefits is you. [ male announcer ] it's that time of year again. time for citi price rewind. are only citi price rewind automatically searches for the lowest pri
with an agreement to avoid going over the fiscal cliff. president barack obama is on his way back to washington from his vacation -- he's expected to arrive in d.c. later this morning. congress is back in the nation's capitol trying to hammer out a deal. congressional officials say they don't know if any significant strides toward a compromise will take place. or going to happen before new year's and without an agreement automatic tax increases for everyone and deep spending cuts especially to defense. they go intoe penalty in 2013. the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a good job. >>> just a few hours you will be able to gamble any time of the day that you
brews up a bold campaign to get a deal done on the fiscal cliff. details are coming up next. you can never have too much money and a damn good cup of joe. ♪ . ♪ . adam: not so beautiful if you're caught in a blizzard hitting part of the country but that's another story. time for a little fun with spare change. we are joined today by fox ne contributor julie roginsky and our ownennis kneale. first up, if you love country, i don't know if you guys are starbks people -- >> i am. adam: dennis are you starbucks? too bitter. >> you're too sweet. adam: starbucks wants to send a message to lawmakers, notice i ignored that one. message to lawmakers about the fiscal cliff. they're using coffee cups to do the job. the ceo at starbucks is urging starbucks workers and employees in the washington, d.c. area to write on the cups, come together, come together right now. i guess quoting the beatles. thursday and friday. dennis, what do you think?. >> that should fix it. that's all we needed. either conjures up very old beatles cliche or elusive quest in the bedroom. they should cut spending or ra
about getting anything done before we reach that fiscal cliff. listen to what he said. >> the speaker just has a few d days left to change his mind, but i have to be very honest, mr. president. i don't know time wise how it can happen now. >> let me kind of lay out the state of play. i'll try to keep it out as much as possible. this is something everybody is focused on. the ball is in the senate's court right now. so what senator reid, who you saw earlier, and the president, what they are trying to figure out is whether or not they can craft what the president called a scaled-back bill, which is what he campaigned on. raising taxes for everybody making more than $250,000 a year and adding a few other tax-related items in there. maybe spending but it's unclear. the question is whether or not they can put all that together in a way to get enough republican votes in order to pass the senate and then would have to have enough votes to pass the house as well. whether they can do that in the next few days is an open question. >> just procedurally too, that takes time. and congress notorious
to try to reach a deal about the so-called fiscal cliff he boarded air force one overnight and will be aliveing at andrews in maryland 8:45 our time this morning he cut short his vacation, democrats and republicans have four days to reach a deal before mandatory budget cuts and tax increases kick in january 1st. >>> at least 200 teachers will get concealed weapons training in utah today, overflow crowds are expected when gun rights advocates waive usual fee for teachers. the training tolls the shooting tragedy in newtown, connecticut. gun groups believe teachers can act more quickly than law enforcement in those critical first minutes to protect children. >>> gun buy-back event in los angeles is being called a huge success, you can see why. people in their cars lined up for miles yesterday to turn in their firearms. event is held once a year and takes place in the spring, the mayor moved it up to take advantage of the outrage over the connecticut school massacre, the city gave away up to $200 in grocery gift cards. >>> lance armstrong has until today to appeal the ban impos
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, it looks like we're heading towards going over the fiscal cliff, which isn't the end of the universe. but i was reading a piece this morning saying they can vote not to raise taxes, but lower them less. >> but they can still say to their constituents, i did not raise taxes. >> but i wonder what other impact there will be if they go over the cliff, so to speak? >> well, right now, we don't know what affect this is going to have on the market, there is a ceiling issue. >> the u.s. is kind of almost rules driven. we create these rules and create problems for ourselves and have to try to get around them. why, is there anything to like about this system which we're rightly limiting at the moment? >> i suppose you could argue that it's politically sensitive. it's sensitive to the election. rather than one consistent policy being followed, it reacts much better. there's a reason why obama is leading this thing right now. he won the election. he now has the right, morally and politically to force his version of a deal upon people. we also have to consider the dynamics of congress. you know, boehner
ticks toward the fiscal cliff. nancy cordes is with the president in honolulu. nancy? >> reporter: jim, the president is trading the sand for snowy washington. he'll be back in the nation's capital by mid-morning tomorrow, and most of the u.s. senate will be attempting to get back there by then, as well. but house leaders have not given their members the signal to return to washington and say they won't until the u.s. senate passes a bill to avert the fiscal cliff. as the president wrapped up his vacation, federal workers trickled back into the nation's capital. but the only people who can avert the fiscal cliff, members of the house and senate, have not returned, and, in just six days, a 2% payroll tax is set to expire, along with the bush era tax cuts, shrinking the average workers' paycheck in 2013 by about $1,500. long-term unemployment benefits for about two million jobless americans are also set to expire, and $110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for some private sector government
to washington to try to lead us away from the fiscal cliff. >>> former president george h.w. bush in intentive care. we'll have the latest on that. >>> a vigil for firefighters, a tornado in action and december surfing in the great lakes. good morning. i'm mara schiavocampo. a powerful winter storm that brought an odd mix of tornadoes, heavy winds and snow to the nation's midsection is now wreaking havoc on the northeast. snow and sleet have produced treacherous road conditions from pennsylvania and western new york to maine with more than a foot of snow expected in some areas. this storm so far being blamed for at least six deaths. and as nbc's kurt gregory reports, the storm is creating a post holiday travel nightmare. >> reporter: cleanup on the day after christmas for the deep south. a record of more than 20 tornadoes as a massive storm system ripped through mississippi and alabama and left arkansas with a record-breaking white christmas. that storm system continued its march across the center of the nation wednesday, leaving a near whiteout from detroit -- >> not used to it. it's slick. >
to a fiscal cliff. thank you within kelly. jonathan, i want to turn to you right here. harry reid was not holding back this morning on the senate floor. i want to play what he said about the 435 members in the house. >> there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. the speaker just has a few days left to change his mind. but i have to be very honest, mr. president, i don't know timewise how it can happen now. >> and we just heard from kelly about this possible new deal the president has sent over regarding the fiscal cliff. harry reid, though, there's not a lot of time left. >> no, there isn't a lot of time left. what the majority leader is referring to is we've been talking about a lot, the majority of the majority real that if boehner would put aside this tradition that if he's going to get anything passed, it has to be passed bay majority of the republican caucus. clearly there have been times on the little and in the house when boehner could have passed many bills
. >> tomorrow morning's "washington journal," we ask business owners to come in and talk about the fiscal cliff and their plans for the next year. we will continue with the forecast for the coming housing market with a chief economist with the national association of realtors. followed by more discussion of the fiscal cliff negotiations as congress returns to washington. joined by forbes media chairman steve forbes. later, a discussion on background checks, how they work, and when they are required. our guest is matt bennett. "washington journal," live at 7:00 a.m. eastern on c-span. >> they really started to get worried in the summer and fall of 1774. the british admirals' and generals and diplomats were reporting to the crown that the colonists were sending ships everywhere to give ammunition and muskets and cannon. this was after the british had sent more troops to boston, after the boston tea party and the so-called coercive acts. it is clear the colonists were pulling together ammunition and cannon. maybe they did not intend to use it. that was a big debate. the king -- in 1774 he basicall
the lowest level in four months and what we are seeing is the fiscal cliff worries could be to blame for the sudden drop. we are not seeing people jump into the markets here. they're moving to the safe haven. the fear index, the upside, volatility, this morning started to the upside, the idea that we will hear from lawmakers, the time got pushed back, we thought it would be around lunchtime or 3:00 and the truth is we have gotten together and working on it but no real findings, no solution and as a result we have this marked under pressure. tracy: we have plenty of time. i always thought you were debbie downer. the new year's resolution is not to go for the fiscal cliff. lori: i will just keep saying and be done. tracy: president obama and the senate back in office, senator harry reid is the latest to say it looks like we are headed to tumble over the cliff. let's check with rich edson with the latest. >> tracy will have to come up with a new term. we will be saying this afternoon years. democrats and republicans deck at each other saying it is your turn to make a move, up to you to
to the fiscal cliff. five days away from the tax hike. as you probably know, the president pulled the plug on his holiday trip to hawaii and arrived back in washington after 11:00 this morning in hopes of locking in taxes as they are right now for all but the wealgyest 2 percewealgy e wealthiest 2%. the house is telling us no, that is not the case. i got jessica yellen standing by and we have dana barb who is standing by and they are there on capitol hill. what is the mix up between sending a plan and not sending a plan by the president? >> hi, john. the bottom line is both sides want to take action and before senat senator mcconnell decides whether to filibuster the measure and whether the other republicans in the party will filibuster, they have to see the details in the proposal. will there be an estate tax provision? how will unemployment which is expected to be extended? will it be paid for? what spending measures will be in this and spending cuts, etc. there will be more details spelled out and where will that come from? will it come from a phone call and staff here at the white hous
: good morning. if you sell your house and get a profit, you don't pay taxes on it. on the fiscal cliff, how does that affect people that are selling? guest: the capital gains tax rate will be rising to 20%. there is an exemption. the first half million dollars will not qualify as additional capital gains. for most homeowners, if we have fiscal cliff, the selling of the home, there will not be a cowboy gains taxes associated with it. -- capital gains tax associated with it. that would fall under the exemption of half a million dollars for most families. host: we have a tweet from boringfileclerk. guest: enlarge tax increase and large number of middle class families and they will be hesitant to buy a home. host: are subprime loans still being marketed? guest: for a subsection of the population, perhaps it is -- say a young couple, one is a medical doctor and one is a lawyer, graduated with high debt. people can see to have high income potential. in mortgage that does not qualify as standard may be for this family. the subprime loan began to give out to anybody. anyone with a heartbeat. t
in the house and the senate to come together in the fiscal cliff. we're going to be talking about the starbucks effort a little later in the show. good morning, ladies and gentlemen. >> good morning. >> good morning. it's thursday, december 27th. i'm mike barnicle in for joe, mika and willie. joining the table, we have political editor and white house correspondent for the huffington post, sam stein. >> hi. >> applause for sam. "fortune's" assistant managing editor, leigh gallagher. and the president of the council on foreign relations, author of "foreign policy begins at home: the case for putting america's house in order." and in washington, vice president and executive editor of msnbc.com and msnbc political analyst, richard wolffe. a minor round of applause for richard wolffe. >> one hand clapping. >> first of all, can anybody here come up with a synonym -- i don't care what it is -- so we don't have to employ the phrase "fiscal cliff" at all during the day? any ideas? anybody got any -- >> how about deadline? >> how about do your job. how about just do your job time. it is ridiculous. a li
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